Cardano (ADA) Price Prediction: July End 2024

Paigambar Mohan Raj
cardano
Source – TradeSanta

Cardano (ADA) has dipped 2% in the daily charts and 0.8% in the weekly. Despite the recent dip, ADA has maintained some gains in the other time frames, rallying 14.1% in the 14-day charts, 9.3% in the monthly charts, and nearly 35% since late July 2023.

Also Read: Cardano: When Will ADA Reach $10? Timeline Revealed

Source: CoinGecko

Also Read: Cardano Uptrend: Will ADA Break the $0.4233 Resistance?

Despite the lack of any forward price movements, ADA’s Total Value Locked (TVL) has witnessed a significant surge, rising by 38% from $172.78 million to $238.5 million. The increase could represent a rise in the use of ADA-based applications.

Cardano price prediction for July end 2024

Cardano ADA
Source – R7

According to the analysts at CoinCodex, ADA will continue to trade at around current levels for the rest of the month, signaling a consolidation phase for the asset. The platform predicts ADA to trade at $0.40 on July 31, 2024. Reaching $0.40 from current price levels would translate to a dip of about 4.76%.

Also Read: Cardano: $10 Price Echoes As ADA Looks To Embrace Chang Hard Fork

Source: CoinCodex

Changelly also paints a similar picture for Cardano for the remainder of this month. Changelly analysts anticipate ADA to trade at $0.412890 on July 29, 2024, a 2.38% dip from current levels.

Also Read: Ripple (XRP) & Cardano ETF Are Not Likely Now, New Data Shows

There is a possibility that ADA will turn bullish, fuelled by the Ethereum (ETH) ETF launch. The US SEC has approved the ETH ETF to begin trading today, which could lead to a market-wide rally. The launch of the Bitcoin (BTC) ETFs earlier this year led to BTC hitting a new all-time high and also led to other assets witnessing massive inflows. We may see a similar pattern emerge with the ETH ETFs as well.